According to the new fourth quarter and fiscal year report from The Walt Disney Company, it invested less in theme parks in 2021 than in 2020.
The table above shows investments in millions. Total investments for Disney Parks, Experiences, and Products dropped from $2,904 million to $2,272 million. Most of this change is accounted for by a $548 million investment drop in domestic theme parks.
Investment in Disney Media and Entertainment Distribution increased by $79 million, while investment in the corporate division increased by $109 million.
The total investments in parks, resorts, and other property dropped by $444 million.
The report states, “Capital expenditures decreased from $4.0 billion to $3.6 billion driven by the temporary suspension of certain capital projects since the onset of COVID-19 in fiscal 2020 at Disney Parks, Experiences, and Products.”
Disney Parks reported a 26% increase in revenue for the 2021 Fiscal Year over 2020.
For more on some of the “temporarily suspended” projects, read some of the following articles:
- Disney Reiterates “Festival Area” and Not Pavilion Building is Coming to World Celebration in EPCOT
- Walt Disney Imagineering to Continue Work “In Stages” for Mickey & Minnie’s Runaway Railway at Disneyland and TRON Lightcycle Run; Other Projects to be Reassessed, Possibly Delayed
- EPCOT’s Play Pavilion Omitted from Disney Press Releases, Casting Doubt on Attraction’s Future
- CONFIRMED: Spaceship Earth Reimagining and Mary Poppins Attraction Officially Postponed at EPCOT
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It defiantly shows. The parks quality have gone down from previous years. And with the price increases and the decrease of park quality is a recipe for disaster.
Disney needs to see a return on Disney+ somehow and the parks will suffer as a result. Slowing D+ subscriptions coupled with poor decisions in content/programming have not helped drive subscriber growth. Wise, just wise…
So now charging to have a fast pass which used to be included in your overpriced ticket and then saying they will cut portion sizes for food but not the price. They are putting less investment back into the theme parks? Such a failure of a company I hope they go bankrupt.